By Andrew Batt:
Yesterday’s news about a new major shareholder in Stock Exchange of Thailand-listed luxury property developer Raimon Land has been followed by a change of directors.
In a statement to the Thai bourse yesterday, the company announced that three directors – Kitti Tungsriwong, Hubert Viriot and Numan Mohamed Numan Mohamed – have resigned with immediate effect. They have been replaced by Jason Goh Hseng Wei, Lee Chye Cheng Adrian and Nuch Kalyawongsa.
The company also revealed more information about its new major shareholder – JS Oil Pte Ltd – which on Friday acquired a 24.98 percent in the developer.
The statement said: “JS Oil Pte. Ltd. is a private limited company incorporated under the laws of the Republic of Singapore. It has an issued and paid-up share capital of S$10,000 Singapore. JS Oil Pte. Ltd. has two directors, Mr. Lee Chye Tek Lionel and Mr. Lee Chye Cheng Adrian. Its main business activity is investment holding. Mr. Lee Chye Tek Lionel has, through JS Oil Pte. Ltd, acquired the 24.98 percent shareholding in the company.
“Mr. Lee Chye Tek Lionel is a well-regarded Singaporean entrepreneur who heads Ezra Holdings Limited ("Ezra"), an offshore oil and gas services company listed on the Mainboard of the Singapore Exchange Securities Trading Limited. He has grown Ezra and other SMEs into world-class, global players with listings in Singapore, Norway and Malaysia with a total market capitalisation of nearly US$2 billion, with over 5,000 staff worldwide.
“In recent years, Mr. Lee Chye Tek Lionel has further diversified his interests into real estate and hotel management with the successful development of Tower 15, an impressive 30-storey, high-rise skyscraper in Singapore’s central business district that is now home to many well-known oil and gas companies, boutique hotel Klapsons, and popular sky-terrace bar Fabrika. Klapsons is managed by Wisteria Hotel Management Pte Ltd, a subsidiary of Mr. Lee Chye Tek Lionel’s family-owned Jit Sun Investments.
“Mr. Lee Chye Tek Lionel intends to work closely with the Company and its management team in identifying opportunities for growth in Thailand and in the Asia Pacific region.”
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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